DCP Midstream Snapshot DCP NYSE TICKER FORTUNE 500 152MM Excess FCF YTD NUMBER 3.1B MARKET CAP 1.6MM AVG. 52-week TRADING VOLUME 413 1.3B AVAILABLE LIQUIDITY .39 / 1.56 ANNUALIZED Ba2 / BB+ / BB+ DISTRIBUTION PAYMENT…
Strong Portfolio of Assets Leading Midstream Provider Integrated Logistics & Marketing and Gathering & Processing business with competitive footprint and geographic diversity Unparalleled interconnectivity and access to…
Compelling Investor Value Proposition INTEGRATED MIDSTREAM PROVIDER EXCESS FREE CASH FLOW POSITIVE Fully integrated midstream business, with strong Logistics portfolio and geographically diverse, premier asset base Excess free cash…
DCP Business Evolution 2010* Extended and enhanced Logistics & Marketing (L&M) value chain 2020 Strategically aligned Gathering & Processing (G&P) footprint Opportunistic consolidation, right-sizing the portfolio DCP 2.0…
Long-Term Financial Priorities Generate Improve Reduce Excess Free Credit Leverage Cash Flow Ratings Excess free cash flow positive in 2020 Delevering is top capital allocation Ba2/BB+/BB+ credit ratings and 2021, enhancing…
Company Ownership Structure Baa2 / BBB+ / BBB+(3) (NYSE:ENB) 50% 50% A3 / BBB+ / NR(3) 114.4 billion (NYSE:PSX) enterprise value(1) 36.7 billion enterprise value(1) General Public Partner Unitholders (2) 57% Common 43%…
Proactively Managing Liquidity Liquidity Revolving credit facility ( in Millions) 1.4 billion unsecured backed by 16 leading revolving credit facility financial institutions, matures in December majority shared by of 2024 ENB &…
Total Capital Expenditures Total Capital Spend (MM) Sustaining capital Capital Definitions Growth capital Sustaining capital is cash 970 expenditures to maintain our cash 955 flows, operating, or earnings capacity Growth capital…
2020 and 2021 Hedges Hedge Position as of October 31, 2020 Commodity Q1 2020 Q2 2020 Q3 2020 Q4 2020 2020 Avg. 2021 Avg. Total Equity Length Hedged(2) NGLs hedged (Bbls/d) 10,352 10,352 13,011 13,011 11,681 4,570 Targeted average…
External Environment Updates 15
Resiliency and Durability of DCP Model Health and Safety Operational Continued Cost & Priority Excellence Capital Efficiency Protecting our Maintaining top safety Expect to beat YoY 120MM employees, performance while driving cost…
Successfully Navigating 2020 PRIORITY ACTION RESULT Implemented pandemic response plan to Healthy workforce Health & Safety ensure safety of our employees, Business continuity; safe and reliable customers, communities, and operations…
Delivering on Commitments Q3 Results Q4 Outlook 2H Expectations Q3 volumes Expected declines due to L&M Volumes flat to Q2 reduced ethane recovery Q3 volumes slightly Slight increase G&P Volumes down to Q2 in volumes Ethane 50%…
Managing Counterparty Risk Customer Ratings(1)(2) Customer Types(1) Other 6% B- to BB+ Producer 26% Marketer 22% A- to A+ 18% 32% Refiner / Petrochem 20% Midstream 24% BBB-, BBB, BBB+ Utility 42% 10% Top 50 customer…
DCP Strategic Execution 20
DCP Strategic Approach Operational Excellence and Sustainability Our vision is to be the safest, most reliable, low-cost midstream service provider Financial Execution Focused on delivering significant excess free cash flow…
Long-Term Strategy Ensuring Stability Enhance our environmental, social, and governance performance to ensure long-term sustainability and operational excellence Maintain best in class cost and capital discipline through continued…
Long-Term Global Demand for Natural Gas World Primary Energy Demand by Fuel (BTOE) Share by Fuel Renewables 14% Coal 20 27% Nuclear 18 5% 16 2018 Natural gas 14 23% Oil 12 31% 10 8 Renewables Coal 6 21% 21% 4…
The Midstream Value Chain DCP plays a critical role in supplying the nations electricity, fuel, and products through natural gas gathering and processing, logistics and marketing, transportation, and fractionation 24
Integrating & Enhancing the Value Chain Strategic G&P footprint feeding strong Logistics asset base Driving customer volumes to multiple market centers along the Gulf Coast Q4 2019: OConnor 2 bypass PROCESSING Q4 2020: Latham 2…
Strength via Diversification and Transformation Basins Cash Flows Customers Wellhead Volume Q3 2020 Adjusted EBITDA 2010 vs. 2019 Top 50 Customers, 74% IG(2) East Texas Other 6% 6% Marketer Eagle Ford 18% Diversity of DJ…
Disciplined and Strategic Capital Projects Est. 100% Total Est. Expected Projects in Progress Capacity CapEx (MM) In-Service Gathering & Processing Latham 2 Offload Long-term gas processing offload agreement at Western Midstream…
DCP 2.0 Driving the Operations of the Future DCP 2.0 Strategic Objectives Achieve Real-Time Digitally Enable the Increase Cash Flow While Optimization and Decision Business and Workforce Diminishing Risk Making Utilize real-time…
ICC and Remote Operations Integrated Collaboration Center (ICC) Linking Numerous Data Sources SCADA Financial Real-Time Engineering KPIs Contracts and DCS Data Prices Data Integrated Collaboration Center Remote Operations…
DCP Technology Ventures Accelerating digital transformation and technology adoption for the midstream industry to improve sustainability and increase optimization Rapidly Piloting & Adopting Emerging Tech Safety Encroachment Tech -…
World Economic Forum Designation DCP joins the World Economic Forums Global Lighthouse Network of companies leading the world on innovation via Fourth Industrial Revolution technological adoption at scale 1 of 54 1 of 5 1 of 1…
Highlights from the Inaugural DCP Midstream Sustainability Report DCP is committed to safety, social responsibility, diversity, environmental leadership, operational excellence, and ethical business practices to ensure the decisions we…
DCP 2.0 Environmental Management Transformation We recognize our critical responsibility to provide safe, affordable, reliable energy, while reducing our contribution to, and mitigating the impacts of climate We are leading the change.…
Segment Overviews 36
Logistics and Marketing (L&M) Overview DCP Logistics Assets The Logistics & Marketing segment is fee-based or fee-like and includes NGL and gas takeaway pipelines, marketing, trading, storage, and fractionators Sand Hills provides…
L&M Ownership & Customers NGL and gas pipelines provide open access to premier demand markets Legend: Cheyenne Connector DCP operated Operated by TGE DCP 50% Owner Third party operated Customer Centric Pipeline Takeaway…
Gathering and Processing (G&P) Overview North Assets Permian Assets South Assets Midcontinent Assets DJ Basin Delaware Basin Eagle Ford SCOOP/STACK 10 active plants 4 active plants 5 active plants 5 active plants 1,160 MMcf/d net…
Diverse Producer Customers in Key Basins DJ Basin (North) Midcontinent Permian South Volume and margin portfolio supported by long-term agreements with diverse high- quality producers in key regions 40
Volumes by Segment NGL Pipeline Volume Trends and Utilization Q3'19 Q2'20 Q3'20 Q3'20 Q3 2020 Southern Average Gross Average NGL Average NGL Average NGL Hills volumes up Approx System Throughput Throughput Throughput Pipeline NGL…
DJ Basin Fundamentals Strength of the DJ Front Range Producer Acreage Life of Lifelong contracts forge strong producer and community Lease relationships in rural, industry- Contracts friendly Weld County Rural Dedicated acreage…
Non-GAAP Reconciliations 43
Non-GAAP Reconciliations ** We define adjusted gross margin as total operating revenues, less purchases and related costs, and we define segment adjusted gross margin for each segment as total operating revenues for that segment…
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